FTO adjourns hearing of case filed by M/s Mughal Iron against LTU

LAHORE: The Federal Tax Ombudsman (FTO) has postponed the hearing of a case filed by M/s Mughal Iron and Steel Industries against the Large Taxpayers Unit (LTU) Lahore until the next date.

According to the details, FTO Consultant Tariq Yousaf heard the case of Mirza Javaid Iqba, owner of M/s Mughal Iron and Steel Industries in which the counsel for the appellant argued that Large Taxpayer Unit (LTU) had failed to release the refund to the appellant of the last three years.

He said that the LTU collected excessive tax from M/s Mughal Iron and Steel Industries during the last three years. He approached the officer concerned many time for issuance of the refunds but the LTU officials did not pay the refunds after the passage of reasonable time.

Finally, the appellant decided to approach the Federal Tax Ombudsman (FTO) seeking interference in this case. The counsel appealed the FTO advisor to direct the LTU to clear the refund claims.

The counsel further said that the delay in issuance of refunds put burden on the taxpayers, adding that the LTU should make audit of the cases and release the extra amount collected by it from the taxpayer.

On the other hand, counsel for LTU argued that the appellant has not submitted all record in the office on which basis it is claiming for refunds. If appellant provides accurate record, the LTU will issue the refunds if any after proper assessment, he added.

After hearing the arguments from both sides, FTO adjourned the case until next date for further hearing and directed the parties to appear on said date to present arguments in the case.